By Les Christie @CNNMoney December 4, 2014: 1:15 PM ET NEW YORK (CNNMoney) Even though the housing market has been steadily recovering for a few years now, one thing has been keeping it from making a real comeback: first-time homebuyers. But that will soon change, according to Realtor.com. "Increases in employment opportunities will empower younger buyers to return … Continue reading 10 Hottest Housing Markets for 2015
Tag: chicago real estate
SEC grants Bank of America relief in $16 billion settlement
Ben Lane November 21, 2014 5:04PM The record-setting settlement between Bank of America (BAC), the U.S. Department of Justice, certain federal agencies and six states to resolve claims over toxic residential mortgage-backed securities can finally proceed after the bank was granted relief by the Securities and Exchange Commission. In August, BofA agreed to a $16.65 billion settlement over toxic mortgages, collateralized … Continue reading SEC grants Bank of America relief in $16 billion settlement
New 2% Down Mortgage from Wells Fargo
Here is a new loan program from Wells Fargo! 2% down payment (may be gifted) No mortgage insurance Condo, Townhome and Single Family Maximum annual household income $61,040 Closings costs can be paid by the seller Better than renting or FHA Chapter 7 & 13 discharged for 2 years Foreclosure or Short Sale completed for … Continue reading New 2% Down Mortgage from Wells Fargo
First-time homebuyers abandoning the housing market
By Les Christie @CNNMoney November 4, 2014: 11:29 AM ET NEW YORK (CNNMoney) Young America's love affair with homebuying has hit a low point. The percentage of homes that were sold to first-time homebuyers dropped to 33% this year, the lowest percentage in almost three decades, according to the National Association of Realtors. Typically, first-time … Continue reading First-time homebuyers abandoning the housing market
Zombie Foreclosures Result in Millions of Delinquent Tax Revenue Dollars
So-called "zombie" foreclosures have been known to lower property values of surrounding homes. But they also present another problem: property tax revenue lost, RealtyTrac recently reported. According to RealtyTrac's most recent data on zombie foreclosures, about 21 percent of the 141,406 total foreclosures reported in Q2 were of the zombie variety. With the owner having … Continue reading Zombie Foreclosures Result in Millions of Delinquent Tax Revenue Dollars
Foreclosure Filings Up in July
Foreclosure activity on U.S. housing units showed a 2 percent increase in July from the previous month but was still down 16 percent from the same month last year, according to RealtyTrac's July 2014 U.S. Foreclosure Market Report released on August 14. RealtyTrac's study showed that 109,434 housing units in the U.S. reported some type … Continue reading Foreclosure Filings Up in July
Mortgage refinancing rates at their lowest in 14 months
If you are looking to refinance your home, mortgage rates are currently at their lowest levels in 14 months. However, there are still hundreds of thousands of households in the U.S. that have yet to take advantage of the Home Affordable Refinance Program. The average household saves over 30 percent in monthly payments with a … Continue reading Mortgage refinancing rates at their lowest in 14 months
MBA: Here’s why delinquency and foreclosure rates continue to drop
The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 6.04% of all loans outstanding at the end of the second quarter of 2014. The delinquency rate decreased for the fifth consecutive quarter and reached the lowest level since the fourth quarter of 2007. The delinquency rate decreased seven … Continue reading MBA: Here’s why delinquency and foreclosure rates continue to drop
A snapshot of mortgage news across U.S.
Mary Umberger On Real Estate 8:20 p.m. CDT, July 20, 2014 Once again, the printouts heralding housing news that are heaped on my desk threaten to fall over and hurt me. In the name of safety, let's get the news (much of it mortgage-related) to the people: The ads touting reverse mortgages are hard to … Continue reading A snapshot of mortgage news across U.S.
Best Landlord Markets
NEW YORK (CNNMoney) The rental market has been booming over the past several years, with many landlords earning double-digit returns of 10% or more. And while rising home prices have dampened returns for landlords in some markets, other markets still offer plenty of profits, according to RealtyTrac which analyzed rental market conditions in 370 major … Continue reading Best Landlord Markets
The Law Office of Beth Mann, P.C. 